It's like nothing China's treasurers have seen in the past 10 years; a toxic combination of defaults, US rate hikes, a downturn at home, regulatory interference and trade tensions are killing bond issuance.

CT kicks off its new weekly column on treasury gossip with a look at “Safe’s roadshow” to promote RMB bonds from non-Chinese issuers, and a book on Buddhism that’s shaping up as the new management Bible.